XPND capital raises $75 million

XPND Capital has closed its second fund with $75 million from institutional and private investors. The XPNDCROISSANCE Fund is aimed at transforming Quebec-based companies in traditional sectors such as transportation into innovative businesses by acquiring and implementing leading-edge technologies. Investments to date include Téo, an electric taxi project and Lion Bus, a manufacturer of electric school buses. The latest funding was provided by Fonds de solidarité FTQ ($10 million), Fondaction CSN ($5 million), Caisse de dépôt et placement du Québec ($15 million) and Investissement Québec which increased its participation by $5 million, to a total of $15 million....